News
Insurers slammed for ‘abandoning net zero targets’ to back Nordic gas and oil exploration
Greenpeace says insurers are prioritising “dirty profits” over the future of the planet as it names 69 insurers involved with a gas and oil exploration project in Norway.
Admiral enters connected car telematics market
Admiral has teamed up with car manufacturer Ford and telematics provider Redtail Telematics to produce one of the UK’s first connected telematics motor insurance products.
Consilium to build specialism division around new hire
Paul Richards, co-chief executive of broker Consilium, shared his plans to build a new cyber, tech and fintech division around Elmore Insurance Broker founder Tom Abbotts.
Swiss Re joins Net-Zero Insurance Alliance exodus
Swiss Re has joined Zurich, Hannover Re and Munich Re in turning its back on the Net-Zero Insurance Alliance.
AI could become the ‘wild west of tech’ if it is not used appropriately
Artificial intelligence could take on unexpected behaviours, leaving consumers being treated unfairly with vulnerable customers hit the hardest, industry leaders claim.
Cyber insurance market set to double in size
The global cyber insurance market is forecast to grow from $16.7bn (£13.4bn) in direct written premiums in 2022 to $33.4bn in 2027, according to Global Data.
Insurance’s richest figures revealed
Douw Steyn and family are the only famous faces from the world of insurance to make it into the top 100 of this year’s Sunday Times Rich List.
Experts say AI has potential to ‘unlock’ legacy systems
Artificial intelligence could finally solve longstanding industry legacy systems issues and insurers who don’t get on board will be missing out, experts claim.
Ecclesiastical boss aims to double size of business
Richard Coleman, managing director of Ecclesiastical, reveals how he plans to double the size of the insurer’s business in the next few years as part of the provider’s mission to “give more to good causes”.
Howden unifies business; Pikl partners with Confused; Gallagher sponsors the horses
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Aviva looks to build new product lines
David Martin, managing director of UK GI distribution & SME at Aviva, revealed that the insurer is considering its fund allocation with the intention of building out new products.
Novidea reveals plans after securing further $50m in funding
Insurtech Novidea said it will use the Series C funding to further develop its insurance platform as digital transformation continues to be an “urgent pain point” for insurers.
Aviva sees uptick in brokers developing ESG plans
Over a quarter of brokers are implementing Net Zero plans, according to research from Aviva.
Insurers continue to grapple with rising costs for vehicle repairs
While property and motor claims’ post-Covid difficulties have begun to ease, the latter in particular are still presenting challenges to insurers, according to Zurich UK chief claims officer James Nicholson.
Liiba members relying on ‘flimsy model’ to operate in EU, says CEO
Chris Croft, CEO of the London and International Insurance Brokers Association, has said the model in which members operate in the EU is “very open to interpretation”.
CII professional standards director exits
Melissa Collett is exiting her role as executive director for professional standards at the Chartered Insurance Institute at the end of this month.
Zurich challenges itself to halve HNW quote times
As Zurich looks to invest further in the high net worth space, head of personal lines and specialties Phil Ost wants to challenge his HNW team to respond to brokers’ quotes within 24 hours
RSA turns to broker networks in pursuit of commercial lines growth
RSA is leaning heavily on its relationships with broker networks as it looks to grow its commercial lines business.
Industry lacks a ‘credible understanding of terrorism in the UK’
The insurance industry needs to brush up on its understanding of terrorism risk ahead of the expected passage of Martyn’s Law next spring, Pool Re has said.
DWF bosses reveal growth plan following restructure
Matthew Doughty, CEO of Insurance at DWF, has revealed the legal and business service provider is looking to grow by doing more end-to-end business with existing clients, attracting new insurers and hiring more partners “from competitors”.
Pet insurance fraudster collared by the law
A finance officer at a veterinary practice, who made more than £37,000 in fraudulent pet insurance claims by editing invoices obtained from her employer, has been sentenced.
Applied Systems expands commercial lines; Value Space invests; and Avid opts for Allianz for capacity
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Brokers vote for regulatory stability as top desire
A period of stability with no regulatory or legislative changes topped the wish list among attendees polled at the British Insurance Brokers’ Association conference in Manchester yesterday.
Climate change activists target Biba conference
Protestors gathered outside the British Insurance Brokers' Association conference in Manchester today (11 May), calling for insurers to refuse to back the East African Crude Oil Pipeline.